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Toyota to cut production

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Toyota to cut production

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Toyota, the world’s biggest carmaker, is to make fewer vehicles in an attempt to return to profitability.

It will halt one production line in Japan for 18 months from early next year to cut excess capacity amid an industrywide sales slump. Toyota is heading for a record loss this year and reportedly its total cuts could reach 700,000 vehicles which is seven percent of its global capacity.